Development of the key figures
of the voestalpine Group

The challenging economic environment that the voestalpine Group has been facing in the current business year is partially reflected in the development of the key financial figures. However, thanks to the Group’s global positioning, its broad diversification by product and customer segment, and its focus on the highest quality segment, the decline in revenue of 5.2% from EUR 12,387.6 million in Q 1 – Q 3 2023/24 to EUR 11,741.5 million in Q 1 – Q 3 of the current business year was moderate. The lower level of revenue is primarily due to reduced sales volumes.

The voestalpine Group’s operating result (EBITDA) decreased by 23.6% year-on-year from EUR 1,267.2 million (margin of 10.2%) in the first three quarters of 2023/24 to EUR 968.3 million (margin of 8.2%) in the first three quarters of the current business year. A closer look at the level of the operating segments shows that the Steel Division was able to increase its EBITDA in the current reporting period, while the other three divisions were faced with declines. However, it should be noted that both the High Performance Metals Division and the Metal Forming Division had negative one-off effects on their operating result in the current business year. In the first two quarters of 2024/25, the High Performance Metals Division had to recognize impairment losses of EUR 81 million on current assets in connection with the Buderus Edelstahl sale process. By contrast, the Metal Forming Division’s EBITDA in the third quarter of 2024/25 was impacted by one-off effects of around EUR 30 million from the reorganization of the Automotive Components business segment (see also ad hoc disclosure dated 14 October 2024). The operating result (EBIT) fell by 43.9% year-on-year from EUR 696.7 million (margin 5.6%) to EUR 391.1 million (margin 3.3%).

The net financial result (financial income less finance costs) remained at the previous year’s level of EUR 137.1 million in the first three quarters of 2024/25 (Q 1 – Q 3 2023/24: EUR 138.5 million). At EUR 254.0 million, profit before tax were down 54.5% on the previous year’s figure of EUR 558.2 million. Given a tax rate of 18.6% (previous year: 24.8%), the voestalpine Group’s profit after tax for the first three quarters of 2024/25 amounted to EUR 206.7 million (Q 1 – Q 3 2023/24: EUR 414.7 million).

In the year-on-year comparison, the voestalpine Group was able to reduce its net financial debt by 2.6% from EUR 2,011.6 million as of December 31, 2023 to EUR 1,959.5 million as of December 31, 2024. Based on the balance sheet date of March 31, 2024 (EUR 1,650.8 million), this results in an increase of 18.7%. Equity declined by 2.8% year-on-year from EUR 7,684.0 million as of December 31, 2023 to EUR 7,466.5 million as of December 31, 2024. Compared to the reporting date of March 31, 2024 (EUR 7,499.6 million), equity decreased only slightly, by 0.4%.

As the year-on-year relative changes in net financial debt and equity are roughly the same, the gearing ratio (net financial debt as a percentage of equity) as of December 31, 2024 remained unchanged at 26.2% compared to the previous year. Compared to the balance sheet date of March 31, 2024 (22.0%), the gearing ratio increased slightly.

The number of employees (FTE) of the voestalpine Group was 50,670 as of December 31, 2024, practically the same as the previous year (50,712) as of December 31, 2023. Compared to the reporting date of March 31, 2024 (51,589), the number of employees decreased by 1.8%.

Net financial debt can be broken down as follows: